The costs for groceries and weekly shopping are now rising even more than in the previous year
Pressure on Irish shoppers’ pockets mounted in January as food price inflation surged, even as global energy costs have started to level off.
Price inflation for rocery in Ireland rose to a record 16.3 percent in the 12 weeks to January 23, according to the latest figures from research group Kantar.
This also reflected a jump from December, when food price inflation was 15.4 percent.
With continued price increases, households are now paying an extra €1,159 on their annual grocery bills this year unless they cut back or bargain.
Grocery sales in Ireland rose 5 percent in the four weeks to January 23, with inflation fueling sales growth.
Overall, the volume of supermarket trips fell by 13 percent over the four-week period.
Consumers in Ireland were keen to save after the bank holidays as private label products were purchased by more shoppers than ever before in January.
Sales of private label products rose 10.4 percent during the month. premium own Label sales in Irish supermarkets have now reached €152.6 million, reflecting an increase of €5.7 million from 2022.
Meanwhile, value lines, the cheapest products in a grocer’s own-brand offering, grew 34 percent for the year, with sales up €17.9 million.
Branded goods saw weaker demand during the month. Purchases of these items increased by 4.7 percent over the period.
“With consumers keeping a close eye on their wallets after enjoying the festive season, it’s no surprise that shoppers continue to resort to their own supermarkets. label products during this period,” said Senior Retail Analyst Emer Healy.
Kantar also found that the number of Irish households saying they were currently struggling fell from 32 per cent in October to 23 per cent in December. This change has been attributed to acquisition cost – living measures introduced in the household, such as B. Electricity Account Balance.
The Kantar report also showed that 38 percent of consumers used a savings coupon for each store.
Although Irish shoppers were eager to find deals in supermarkets, the number of items bought under promotions fell to the lowest level of five Years. The number of products purchased on sale is now at 27.7 percent, according to the latest Kantar data.
Online sales were also strong at the start of the year, up 5.6 percent in comparison same period in January 2022 saw a growing number of shoppers in Ireland going online, with almost one in five households now completing their weekly purchase online.
Lots of Irish buyers started the year on a health boost as consumers spent €848,000 more on vitamin and mineral supplements in January.
Meat-free alternatives also generated sales in January, with purchases up 4 percent as some shoppers opted for vegan. A dry January was also on the agenda for some shoppers, with soft drink sales up 4.6 per cent.
Dunnes Stores retained the top spot in the Irish grocery market with a 23.7 per cent market share.
Tesco followed closely with a 23.1 per cent market share, with SuperValu rounding out the top three with a 20.9 per cent market share.
Grocery discounter Lidl holds a 12.2 percent market share, with new shoppers adding an additional EUR 25.5 million to its performance last year.
https://www.independent.ie/business/irish/cost-of-food-and-the-weekly-shop-is-now-rising-even-faster-than-last-year-42331123.html The costs for groceries and weekly shopping are now rising even more than in the previous year